Is $2,500 really enough to launch a business?
Big venture capital is often what comes to mind when people think of entrepreneurship, but many of the businesses that drive our local economy get their start with just a small amount of savings or a loan from a microfinance organization like RMMFI. Especially for communities that have been left behind by mainstream institutions, a little capital backed by capacity building support can open a lot of doors. Many of the most recent graduates of Business Launch Boot Camp are already demonstrating just how far an RMMFI Launch Loan can go:
- Matt Curry is using his loan to capitalize the relaunch of his business, Chef Curry’s Cuisine. He’s been selling meals at the Cherry Creek Farmer’s Market to increase sales and promote his personal chef services.
- With her loan, Ambie Handby is funding the development of an on-demand dance tutorial course for her business, Secret Dance Addiction. She’s continuing to build exposure and is starting to host more virtual dance parties.
- Jessica Liddle, owner of Little by Liddle, put her loan to use to purchase supplies and marketing materials, cover startup costs, and have some working capital for the official launch of her holistic professional organizing business.
- The loan Brand’i Stewart received is helping her fund inventory, supplies, and marketing for the relaunch of her business, Octeavia Stewart’s, which creates custom teas, topicals, and tones for the woman who feels out of balance.
- Fanta Dansoko’s loan is going toward putting the finishing touches on her website, running a marketing campaign, and getting her home office set up as she launches her online toy store, 4MyChild.
As these businesses mature, RMMFI will continue to offer support through our larger Thrive and Growth loans, ongoing mentorship, and educational workshops to make sure they have the resources they need to grow successfully. You can be a part of that trajectory by becoming one of their earliest customers!